Allegion Ventures invests in accommodations startup Mint House

CARMEL, Ind.—Allegion Ventures, a $50 million corporate venture fund of Allegion plc, has expanded its strategic portfolio with an investment in Mint House, a startup looking to revolutionize the hotel experience for modern business travelers through technology-aided amenities like secure mobile check-in and keyless entry, digital concierge services, and customized pre-stocked grocery delivery, for example. Terms of the transaction were not disclosed.

This deal comes on the heels of Allegion Ventures’ investment in Kasa Living, a company using technology-powered innovation to provide flexible stay accommodations across the U.S. The fund’s president, Rob Martens, says that these two startups are driving new value for customers in a post-COVID world.

“The Allegion Ventures investment thesis – to make security and access smarter, stronger, faster and less intrusive – is aligned with the experiences both Mint House and Kasa create for their business and leisure travelers,” said Martens, who also serves as chief innovation and design officer at Allegion. “As the need for what we call ‘seamless access’ has been amplified by the COVID-19 pandemic, there are opportunities across not just the hospitality market, but also commercial and institutional real estate, to innovate and delight customers, while also helping them safeguard their health through smart technologies.”

With their own access control and technology expertise, the Allegion Ventures team can help both Mint House and Kasa deliver on their unique value propositions of improving guest experiences through secure touchless technology and contactless check-in and scaling operations, among other things.

“It’s always been our mission to fundamentally improve the lives of road warriors who are tired of the legacy, box-like hotel, whether they were staying for two nights, two weeks or two months,” said Will Lucas, CEO and founder of Mint House. “Over the course of the pandemic, Mint House’s model has proven to be ahead of its time as our tech-driven concept offers a safe, reliable option that corporate travel managers feel confident in booking for their employees. We are honored to have Allegion Ventures on our side as we continue to grow, expand and innovate in the short-term rental space.”

Martens added, “For businesses and communities to open up and regain a sense of normalcy, travelers as well as property owners, tenants, employees, visitors and others need flexible and adaptable solutions. Seamless and convenient experiences through touchless technologies matter now more than ever. At Allegion Ventures, we’re excited to be investing in and partnering with innovators who are making a difference and adding value in the new normal.”

Allegion Ventures is the corporate venture fund of Allegion. It invests in and accelerates the growth of companies with innovative technologies and products that have the potential to make security and access smarter, stronger, faster and less intrusive. For more information, please visit www.AllegionVentures.com.

Mint House properties offer a unique experience that combines the feel of a luxury hotel with the comforts and conveniences of your own home, all packaged and delivered via technology. Mint House operates over 500 units nationwide in cities including Denver, Nashville, Miami, Minneapolis and New York. For more information, please visit www.minthouse.com.